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Re: Justjoe1979 post# 71619

Wednesday, 04/28/2021 11:58:00 AM

Wednesday, April 28, 2021 11:58:00 AM

Post# of 73370
Here you go, sent it to Tim, thought I posted here:

Tim

Wanted to update you with my findings so far, does not look good for transferring shares into any established well know brokers, have you heard form anyone else about any possibilities?

Thanks//Karl

My chat with Fidelity - they are a NO for accepting FLES shares

Fidelity:
Please wait a minute while I connect you with a live chat representative. There may be a brief delay before the chat appears.

Thank you for contacting Fidelity Investments. All interactions are subject to record keeping and monitoring. Brokerage chat representatives are registered with Fidelity Brokerage Services LLC and are unable to accept any trading requests to buy, sell or exchange securities in ANY account, or to process any transactions in your retirement saving or benefit plan, nor do they provide legal, tax or investment advice. Fidelity Brokerage Services LLC, Member NYSE, SIPC 866914.4.0

New party ('Matthew Oakes') has joined the session

Fidelity:
Thanks for chatting in! My name's Matt. How can I help today?

You:
Hi Matt, I have a very specific question for you please

Fidelity:
Sure

You:
I purchased shares of a company with ticker FLES through a Reg A+ offering. This share currently trades on the OTCQB exchange and the shares are being held by ClearTrust LLC as the Transfer Agent.
Would you accept transfer of these shares into a Fidelity account?

Fidelity:
Let me check into this. Fidelity deems penny stocks to be anything under $3 per share, which this is currently.

Fidelity:
So I understand clearly, you want to do a transfer of assets of these shares, correct?

You:
Correct, I want to transfer these share from the Transfer Agent noted to a Fidelity Account

Fidelity:
Thank you

Fidelity:
Let me check on this for you

Fidelity:
The only criteria for rejection on this security that I'm unsure on is if it has a market cap below $25 mn.

Fidelity:
I'm not seeing any data on shares outstanding to be able to calculate market cap, likely because it's OTCBB.

You:
Its OTCQB and the market cap is below $25 million

Fidelity:
The security has traded today which leads me to believe it's ok to transfer.

Fidelity:
Ok, if it's below a $25 mn market cap, unfortunately a transfer of assets of the holding will reject.

You:
And that is a standard policy, the $25 million

Fidelity:
Correct. If you initiated a transfer of assets to bring it in, unfortunately it would reject currently.

You:
OK, thanks

Fidelity:
Of course, no problem.

----------------------------------------------------------

My chat with Trade Station, also a NO

Andrew
at 13:46, Mar 25:
Thank you for choosing TradeStation. How may I assist you today?

You
at 13:47, Mar 25:
I recently purchased shares of a stock, ticker FLES, through a Reg A+ offering, trading on the OTCQB exchange at about $2.50 per share and currently held by CLearTrust LLC as the transfer agent and I would like to transfer them to a Trade Station account.

You
at 13:48, Mar 25:
Is this something I can do with Trade Station

Andrew
at 13:48, Mar 25:
We cannot accept the transfer of OTC shares

You
at 13:49, Mar 25:
Do you know of any brokers that can?

You
at 13:49, Mar 25:
And what are the reasons why Trade Station cannot

Andrew
at 13:49, Mar 25:
Unfortunately I do not

Andrew
at 13:49, Mar 25:
Most of the bigger brokerage firms will not accepts OTC shares.

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